Great Lakes Advisors LLC increased its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 68.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 153,025 shares of the utilities provider’s stock after buying an additional 62,415 shares during the quarter. Great Lakes Advisors LLC owned 0.14% of Hawaiian Electric Industries worth $6,664,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Signaturefd LLC increased its holdings in Hawaiian Electric Industries by 60.9% during the 1st quarter. Signaturefd LLC now owns 872 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 330 shares in the last quarter. Personal Wealth Partners bought a new position in Hawaiian Electric Industries during the 2nd quarter worth about $48,000. Flagship Harbor Advisors LLC increased its holdings in Hawaiian Electric Industries by 153.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,139 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 690 shares in the last quarter. Westside Investment Management Inc. bought a new position in Hawaiian Electric Industries during the 2nd quarter worth about $52,000. Finally, CWM LLC increased its holdings in Hawaiian Electric Industries by 40.0% during the 2nd quarter. CWM LLC now owns 1,329 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 380 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on HE. Zacks Investment Research cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating and set a $44.00 target price for the company. in a report on Wednesday, May 29th. JPMorgan Chase & Co. cut Hawaiian Electric Industries from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $37.00 to $38.00 in a report on Friday, August 9th.
Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.05). The company had revenue of $715.49 million during the quarter, compared to the consensus estimate of $592.84 million. Hawaiian Electric Industries had a net margin of 7.07% and a return on equity of 9.47%. During the same quarter in the previous year, the business earned $0.42 EPS. Sell-side analysts expect that Hawaiian Electric Industries, Inc. will post 1.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Wednesday, August 21st. Hawaiian Electric Industries’s payout ratio is 69.19%.
In other news, Director Jeffrey N. Watanabe sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $44.21, for a total value of $251,997.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.94% of the stock is owned by company insiders.
About Hawaiian Electric Industries
Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.
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